TERMS AND CONDITIONS

PROCEDURE: The property will be offered in one individual tract or multiple tracts.

BUYERS PREMIUM: A 10% Buyer’s Premium will be added to the final bid and included in the deed transaction sale price.

DOWN PAYMENT: 10% as down payment on the day of the auction with balance in cash at closing on or before 30 days. The down payment may be in the form of cashier’s check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

ONLINE BIDDER PREQUALIFICATION: To participate in the bidding process, online buyers are required to wire a sum of $100,000.00 to our escrow account.
Additionally, they must provide one of the following:
Bank Letter of Guarantee: A letter from the buyer’s bank guaranteeing that they have the necessary funds to complete the transaction.
Bank Prequalification Letter: A letter from the buyer’s bank confirming their prequalification for financing, ensuring that they meet the necessary financial criteria
to proceed with the purchase.

Both documents serve to confirm the buyer’s financial standing and commitment to the bidding process.

CLOSING: Closing shall take place on or before 30 days from auction date.

REAL ESTATE TAXES: All 2024 ad valorem taxes will be prorated at closing

SURVEY: The property will be sold in multiple tracts or as a whole property. In the event the property is sold in multiple tracts buyer will be responsible for 50% of the survey costs.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections investigations, inquires, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. All sketches and dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and the Auction Company make no warranty or representation, express or implied or arising by operation of law, including an warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the auctioneer are final.

NEW DATA, CORRECTIONS, AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.

Bidding Increments: Each auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid. Auction Ending: Harris Real Estate & Auction Online Auctions have an auto-extend feature. Any bid placed in the final two (2) minutes of an auction; the auction ending will be automatically extended two (2) minutes from the time the bid was placed. Example: If an auction scheduled to close at 8:00 receives a bid at 7:59, the close time will automatically extend 8:02. The auto extend feature remains active until no further bids are received within a two (2) minute time frame. The extension time will apply to individual lots only. Outbid Notification: Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed. Sold “As Is Where Is”: Harris Real Estate & Auction and the seller furnish all auction items to buyers “As Is”, unsupported, without warranty of any kind. Harris Real Estate & Auction. and the seller disclaims all warranties, express or implied, including the implied warranties of merchantability and fitness for a particular purpose. Items are sold in their actual current condition, with all faults and defects, and with all errors of description. Bidders accept all auction items “with all faults”, whether or not immediately apparent. Bidders are responsible for ascertaining actual current condition through personal inspection and careful review of the description, pictures, video and/or support documentation. Every bidder agrees that his or her decision to bid and the amount he or she bids have been based solely on his or her own independent inspection and evaluation of the auction items. Auctioneer’s Discretion: Harris Real Estate & Auction has full discretion to modify the date and time, order, and details of the sale of any item or conduct of any auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Harris Real Estate & Auction or the seller. Harris Real Estate & Auction reserves the right to modify, change, or remove usernames at any time. Server and Software Technical Issues: In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Harris Real Estate & Auction reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Harris Real Estate & Auction shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Harris Real Estate & Auction Terms: Harris Real Estate & Auction reserves the right to reject any and all bids for any reason. An accepted bid is a legal binding contract. Items become the full responsibility of the bidder at the time that payment is received. The bidder assumes all risk of loss or damage to the item at that time. Buyer and or Bidder agrees to hold harmless and indemnify Harris Real Estate & Auction and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

Acceptance of Bid Prices: All bids are subject to seller confirmation unless noted as ABSOLUTE.